3:26:20 PM | 3/13/2008
PetroVietnam Finance Company (PVFC) March 11 clinched a deal to finance $22.4 million for Petroleum Technical Services Joint Stock Corporation (PTSC) to buy multi-functional petroleum service vessels.
PVFC’s loans will span 10 years to facilitate PTSC’s purchase and trading of vessels with capacity of between 7,000 HP and 8,000 HP.
PTSC’s project costs a total of $28 million to serve drilling, exploration, and exploitation of contractors in .
PVFC has provided capital for many oil and gas projects since the beginning of this year, including Phu My gas pipeline, PTSC’s construction of floating storage and offloading (FSO) unit 5 (FSO-5), PV Trans’ building of Aframax vessel, and Nhon Trach 1 power project.
Recently, PVFC clinched comprehensive cooperation deals with PetroVietnam Oil Processing and Distribution Company (PDC) PetroVietnam Trading Company (Petechim) to boost multi-faceted ties in the future. (Labor, New
Vietnamese
